11:13 - 10.04.2023

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April 10, Fineko/abc.az. "The real estate market has grown by 5% against the beginning of the year. The problem in the market is that the supply is small compared with previous years. In this regard, prices are rising," ABC.AZ reports, quoting real estate expert Ramil Gasimzade.

He noted that there is increase in the secondary housing market:

"Cheap housing is gradually being replaced. Inexpensive apartments offered on the market cost up to 70,000 manats. They are about to fail. The cost of 1-room apartments ranges from 65,000-90,000 manats. The price varies depending on the location of the house. Those that are located near metro stations are more expensive. For example, if last year a 1-room apartment in Narimanov cost 75,000 manats, today it is offered for 90,000-95,000 manats. An old-style 1-room apartment near the Neftchilar metro station costs 75,000-85,000 manats. 2-room apartments are offered for 75,000-110,000 manats. And 3-room apartments are sold for 90,000-150,000 manats. For example, if last year a 3-room apartment near the Narimanov metro station cost 95,000-115,000 manats, today these apartments are offered for 135,000-170,000 manats. The most expensive apartments are houses of the "Leningrad" project. Because they are the subject of a mortgage and are more in demand, and their service life has not expired yet."